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The idea that a protocol / coin can simply register with the SEC as a security is just not accurate.
• Twitter - Bruce FentonThe idea that a protocol / coin can simply register with the SEC as a security is just not accurate.
— Bruce Fenton (@brucefenton) June 14, 2023
Here's why:
To begin they would need to file a form S-1 - this has several items that are required which don't exist for many protocols: tokens such as official officers, audited…